Kalpataru Power says Mofatraj, Parag Munot sold shares for ~Rs306cr

Following the sale of said shares, the Promoter Group’s holding in KPTL will be 54.38%, the company said in the NSE filing.

Sep 11, 2019 08:09 IST India Infoline News Service

Kalpataru Power Transmission
Mofatraj Munot and Parag Munot, promoters of Kalpataru Power Transmission Ltd. (KPTL or Company), have sold 69 lakh equity shares of KPTL, representing 4.46% of KPTL’s equity shares, for an aggregate realization of ~Rs306cr. The liquidity through sale proceeds will enable the Promoters in making investments in privately-held businesses to capitalize on growth opportunities, reducing pledged shares and other purposes. 

Following the sale of said shares, the Promoter Group’s holding in KPTL will be 54.38%. The Promoter Group will continue to maintain a majority stake in KPTL and do not plan to sell any further shares in foreseeable future, the company said in the NSE filing.

Stock view:
Kalpataru Power Transmission Ltd is currently trading at Rs453, up by Rs1.95 or 0.43% from its previous closing of Rs451.05 on the BSE.

The scrip opened at Rs446 and has touched a high and low of Rs463.75 and Rs444 respectively.

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